WHY YOU SHOULD USE FLUTTERWAVE FOR ALL YOUR ONLINE PAYMENTS INÂ AFRICA
Flutterwave is a 21st-century payment solutions company that enables merchants, banks, and customers to seamlessly and securely exchange funds in over 150 currencies from across the world. As one of the top e-payment platforms in Nigeria, the company offers payment technology and infrastructure that allows banking institutions and global traders to receive and process payments on web, mobiles, ATM, and POS. This is achieved by the deployment of one unified platform whereby the Flutterwave payment processor bears the burden of integration while the merchant pays a small service charge. Flutterwave payment is usually a 1.4% processing fee for local transactions and a 3.5% service charge for international payments.
The company was co-founded in 2016 by the then 25-year-old Nigerian entrepreneur, Iyinoluwa Aboyeji. Other co-founders include Olugbenga Agboola, and a team of technology and banking experts from Standard Bank, Google Wallet, Andela and PayPal. It has its headquarters in San Francisco, California and African branches in Lagos, Nigeria, Accra, Ghana, Nairobi, Kenya and Johannesburg, South Africa.
In line with the company’s mission of inspiring a new wave of prosperity across Africa, Flutterwave is connecting the continent to the global economy by building secure, user-friendly payments infrastructure and making it easier for Africans to build global businesses that can make and accept any payment, anywhere from across Africa and around the world. Flutterwave has two significant products namely:
· Rave by Flutterwave
· Barter app
Rave payments platform which was introduced in 2017, enables businesses to process a variety of secure payment systems from clients all over the world. The platform can either provide a simple payment link or manage payouts for thousands of customers at once.This includes debit/credit payments from customers using Visa, ApplePay, American Express, Android Pay, Mastercard, Verve and customers using M-Cash, M-Pesa, TIGO, MTN, and Vodafone mobile wallets. From e-commerce to recurring billing it’s no surprise that this platform is utilized by major companies such as Uber, Access bank, Page Microfinance bank, Arik Air, Wakanow, Jumia, and Booking.com.There are no initial start-up or statutory fees, therefore, you can simply register and only pay for transactions accepted. Rave’s end-to-end payment gateway also means there is no additional integration or operational costs.
Barter Everyday Payments App was launched in 2019 in partnership with Visa as a consumer payment product application. The finance app which can be downloaded on both the iOS app store and android google play is aimed at facilitating personal payments between individuals and small-scale retailers in African countries all in their local currency.The Barter app is designed to take over spending, sending and borrowing funds while allowing you to focus on the more important things of life. You can easily view and analyze your spending patterns all from the app. It is more or less a financial personal assistant. For the full user experience, you can also effortlessly apply for repayable short-term loans, right in the app. Since inception, Flutterwave has processed over 100 million transactions worth over $2.5 billion in payments. The payment solutions company is partnered with at least 50 African banks with over 1200 developers constantly working to improve the platform. It has also been able to raise over $20 million in investments with about half of it raised in 2017 in a Series A round of funding. Key investors at the time were Green Visor and Greycroft Partners. By the conclusion of its Series A funding round in 2018, Flutterwave had raised a further $10 million from financial industry heavyweights such as MasterCard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital. This culminated in Green Visor Capital Chairman and General Partner and former CEO of Visa, Joseph Saunders, joining the Flutterwave Board of Directors.
That same year, Flutterwave further demonstrated its mission of providing seamless financial solutions to African SMEs by securing approval from the Central Bank of Nigeria for the use of the Unstructured Supplementary Service Data (USSD) technology for its product. This development drastically reduced the number of banking hall visits made by the average uneducated Nigerian as funds could now easily be transferred between parties via a GSM device without the need for a smartphone or computer with internet access. Some other popular Nigerian payment service providers serviced by Flutterwave technology include but are not limited to Paywithcapture, Paystack, and AmplifyPay.
As a result of their outstanding contribution to the finance industry in Africa, Flutterwave Inc. was awarded the ‘Best Payments Company’ at the Ghana eCommerce Awards ceremony in 2018.
Joining Flutterwave’s payment ecosystem not only guarantees zero unsuccessful transactions, but it also ensures that you experience 24/7 top-notch customer service and affordable charges. All these while providing you with the best possible checkout experience the world has to offer.